Starlink remains a highly-renowned satellite internet service in the world, the brainchild of the famed Elon Musk, but recent reports discovered that it is expected to have as many as 22 million subscribers and a far number larger for its revenue. However, as of this reporting, it was found that it only had 1 million subscribers worldwide, with the company failing to achieve its goal.
It is only around three years since Starlink first opened its services for the world's beta testing, with the company known for massive launches with SpaceX to bring more satellites to grow its operations.
Did Elon Musk's Starlink Fail? 1 Million Subscribers Only
The Wall Street Journal has claimed that it was able to get its hands on a Starlink presentation from 2015, the same exhibition of the company that the company presented to its investors during its maiden launch. WSJ reported that at present, Starlink only has 1 million subscribers who are using the service, and its 2022 revenue was at $1.4 billion, with a massive improvement from 2021's $222 million.
Its actual numbers are massive and safe to say a significant achievement for the company-however, it was far from what it had projected almost eight years ago.
As per the presentation, Starlink was looking into as much as 22 million for its subscribers, $12 billion in revenue, and a $7 billion operating profit.
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SpaceX Failed to Achieve Numbers
Elon Musk, SpaceX, and Starlink have failed to achieve those numbers even after launching in late 2020 and is only a fraction of what it projected for its operations.
"Starlink hasn't signed up customers as quickly as SpaceX had hoped," the WSJ said.
According to CNBC, the numbers for Starlink now see as much as 1.5 million subscribers worldwide, both from its consumers and business users. It was also claimed by SpaceX President and COO Gwynne Shotwell that the company expects 2023 to be a profitable year.
Starlink and What it Offers
Extending better internet connections to the world has always been what Starlink is about, as the service is meant to bring technology to those that are not reached by land-based developments. The current 1 million users of Starlink are spread out, and research from Ookla has discovered that the satellite internet users "love" what it has to bring for their needs.
While Starlink initially centered on an at-home setup for its satellite internet services, Musk and SpaceX also have larger plans for it. One of the top services offered by Starlink is its Portability feature which enables users to bring satellite internet connections with them anywhere.
Moreover, there is a plan to provide mobile devices with satellite internet connectivity, partnering with T-Mobile to soon deliver this feature.
So far, Starlink has the most reach and available service in terms of satellite internet in the world, as its rivals try to catch up to what it has to offer now. However, it is not exactly rainbows and butterflies for Starlink and SpaceX now, as its projection was to grow the service to as much as 20 million subscribers with $12 billion in revenue, with the company still far from these numbers.
